A 'fraud' bigger than Madoff
Senior US soldiers investigated over missing Iraq reconstruction billions
In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than ... Full Story »
Posted by Dwight Rousu
The SeaBees of world war two fame would have had the infrastructure of Iraq up and running in 6 months. The only obvious explanation for the complete ineffectiveness of the American peace effort is massive corruption. The people of Iraq and of the rest of the Middle East completely lost respect for the Americans which contributed to the deterioration of the security situation and huge numbers of casualties amongst both Americans and Iraqies. How is Obama going to get on top of such corrupt vested interests.